Tether Issues Over $3 Billion in USDT

Tether, the world’s largest stablecoin issuer, has recently minted over $3 billion in USDT in just the past 24 hours. This minting activity matches the total amount Tether has minted over the course of an entire month. According to a LookOnChain post on November 24, Tether’s minting was divided into two large transactions: one of $2 billion and another of $1 billion, both of which were sent to the company’s treasury wallet.

Since the start of November, Tether has minted over $13 billion, with significant amounts minted on key dates such as $9 billion on November 8, $1 billion on November 21, and another $1 billion on November 23. The frequent minting of large sums suggests an increased demand for USDT in the market. Typically, stablecoin issuers mint new coins to meet growing market demand. A high minting activity usually signals positive market sentiment, as it indicates that there is strong demand for liquidity in stablecoin assets. Conversely, low minting activity can suggest a bearish outlook for the market.

Tether’s operations are not limited to stablecoin issuance. The company has been expanding its business into new areas, including partnerships in the Middle East. Recently, Tether collaborated with the government of the United Arab Emirates (UAE) to launch a dirham-pegged stablecoin, fully backed by the country’s reserves and tied to the value of the AED (Arab Emirate Dirham). This move is part of Tether’s broader vision to support the UAE’s emergence as a significant global economic hub, positioning the country as a leader in Asia’s financial markets.

Tether has also expanded its partnerships, including working with Quantoz Payment to launch EURQ and USDQ, euro and U.S. dollar-backed stablecoins, respectively. These initiatives are aimed at providing greater financial tools for international markets and improving liquidity.

Additionally, Tether’s diversification efforts include its recent investment into the energy sector. In October, Tether funded a $45 million crude oil trade using USDT, marking a significant move away from being solely known as a stablecoin issuer. This deal is set to facilitate major oil companies globally, allowing them to transfer crude oil through one of the world’s leading commodity traders. Specifically, it involves the transportation of 670,000 barrels of crude oil from the Middle East. This venture into the energy market reflects Tether’s broader strategy to expand its influence beyond digital currency markets and establish itself in traditional industries as well.